Tag Archive | "offshore wind"

Gamesa has signed binding agreements with Areva to form a 50:50 joint venture (JV) with focus on the offshore wind energy industry, following completion of exclusive talks initiated in January 2013. The JV aims to secure a 20% share of the European offshore wind market by 2020 and deliver 2.8GW of capacity. The transaction, which is subject to approvals by the French Government and the relevant competition authorities in Europe and other jurisdictions, will combine both the companies’ expertise in delivering turbines to the offshore wind market. The offshore wind market is expected to cross 25GW in Europe and 18GW in Asia by 2020. Under the terms of the accord, Gamesa will contribute assets worth €195m including its 5MW offshore platform; offshore R&D knowledge transfer and license of the onshore technology that can be applied offshore; extensive operations and maintenance ability, and industrial know-how and supply chain access.

“The offshore wind market is expected to cross 25GW in Europe and 18GW in Asia by 2020.”

Additionally, Areva will contribute assets valued at €280m, which include 5MW and 8MW offshore platforms; a 2.8GW pipeline, the offshore market’s second largest; offshore R&D and engineering knowledge transfer, and offshore manufacturing and logistics capabilities, as part of the agreement. The new company will further develop the upcoming 8MW platform to reduce costs with a view towards installation by 2021 at 1GW of sites recently won by Areva in France’s second offshore wind tender. With registered headquarters in Zamudio, Spain and the executive committee to be based in Paris, France, the JV will fulfill existing Areva industrial development commitments in France and the UK. The transaction is expected to be completed by the fourth quarter of 2014.

“This includes interests such as commercial fishing, shipping, cultural, historical, environmental and local communities to minimise conflicts and bring clarity and certainty to potential wind energy developers.”

Massachusetts Governor Deval Patrick said, “Through our investments and proactive planning, Massachusetts is poised to lead the charge in offshore wind energy development, with the economic and environmental benefits that come with it.”

Located approximately 12 miles offshore from Massachusetts in its northern boundary, the Massachusetts Wind Energy area extends 33 nautical miles southward and has an east / west extent of approximately 47 nautical miles.

BOEM acting director Cruickshank said, “The Commonwealth of Massachusetts has been working hand in hand with BOEM to foster responsible commercial wind development in federal waters off Massachusetts.”

Expected to provide nearly 2,900 jobs, the wind farm would be worth £10m a year to the East Anglian economy and generate enough electricity to power approximately 820,000 homes.

During the planning process, local companies were selected for contracts worth £15m to work on the project and a £17m contract was awarded to Wood Group for the construction and installation of weather monitoring masts.

ScottishPower Renewables CEO Keith Anderson said development consent for the renewable energy project marks an important step forward towards a final investment decision.

Anderson said, “We will now take forward our discussions with the supply chain as we work towards unlocking the significant economic potential of the project.

“The wind farm would be worth £10m a year to the East Anglian economy.”

“East Anglia ONE could support thousands of skilled jobs in construction and operation, and make a positive impact on the local and national economy for decades to come.”

Vattenfall Continental/UK renewables division head Gunnar Groebler said, “Therefore the consent of a scheme like East Anglia ONE – which should be warmly welcomed by everyone – will boost business confidence and help secure more affordable, more reliable and greener power in the UK electricity mix.”

Scheduled to commence construction in 2017, the project is slated to begin generating electricity from 2019.

UK Energy and Climate Change Secretary Ed Davey said, “The project has the potential to inject millions of pounds into the local and national economies, and support thousands of green jobs.”

The U.K. Green Investment Bank aims to boost the capital it commits to carbon-cutting projects to 700 million pounds ($1.2 billion) this year as it chases deals in offshore wind, waste and energy efficiency.

The bank, capitalized with 3.8 billion pounds of government funds, allocated 668 million pounds to clean-energy projects in the year through March, Chief Executive Officer Shaun Kingsbury said today in a telephone interview. That’s up from 635 million pounds the previous year, though the bank only began operations in November 2012.

“I’d hope for more than 700 million for the financial year we’re in, but it’s not about allocating capital; it’s about the quality of the projects,” he said. It will take another “two to three years at least” to commit the full 3.8 billion pounds.

The bank was set up by the government to spur spending in renewables, using its own cash to leverage further funding from private companies. Kingsbury said that progress so far indicates every pound the bank commits has leveraged almost another three, with 3.3 billion pounds of private money flowing from the 1.3 billion pounds he’s allocated so far.

“Our investment levels were up, our green impact was up, and much more of that is direct investment,” Kingsbury said, referring to last year’s performance. He said he’s working on some offshore wind deals that he hopes to announce this year, and waste-to-energy and biomass plans that may be announced as soon as next quarter. He didn’t disclose further details.

‘Chunky Transactions’

Offshore wind is “always going to be a big portion of our capital, probably our biggest sector,” Kingsbury said. “These are very large, chunky transactions, usually more than 100 million pounds.”

Offshore wind, waste and energy efficiency are the bank’s three core areas, to which it aims to commit 80 percent of its funds. In the energy-efficiency sphere, Kingsbury said he’s trying to persuade more councils and local authorities to take advantage of loans from the bank to switch old sodium street lamps to energy-efficient LEDs.

“We could cut both emissions and the costs by 70 to 80 percent with existing technology,” Kingsbury said. Those loans are “sculpted so that you always pay back the interest and capital out of the energy savings you’ve made. So it’s light at the front and the repayments get back-ended and heavier at the end when you’re saving more and more money.”